United Bankshares, Inc. (NASDAQ:UBSI) Plans $0.37 Quarterly Dividend

United Bankshares, Inc. (NASDAQ:UBSI) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Investors of record on Friday, December 13th will be given a dividend of 0.37 per share by the financial services provider on Thursday, January 2nd. This represents a $1.48 annualized dividend and a yield of 3.54%. The ex-dividend date is Friday, December 13th.

United Bankshares has raised its dividend by an average of 1.2% per year over the last three years and has increased its dividend every year for the last 25 years. United Bankshares has a payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect United Bankshares to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 54.6%.

United Bankshares Trading Up 1.2 %

Shares of UBSI traded up $0.48 during midday trading on Wednesday, hitting $41.78. The stock had a trading volume of 38,740 shares, compared to its average volume of 519,738. The stock’s 50 day moving average is $39.62 and its 200 day moving average is $36.74. The firm has a market cap of $5.65 billion, a PE ratio of 15.64 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96. United Bankshares has a 1 year low of $30.68 and a 1 year high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same period in the previous year, the company earned $0.71 EPS. As a group, analysts forecast that United Bankshares will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and an average price target of $40.25.

Insiders Place Their Bets

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following the completion of the sale, the director now directly owns 63,409 shares in the company, valued at approximately $2,717,709.74. The trade was a 3.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter A. Converse sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the director now owns 434,769 shares in the company, valued at approximately $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.66% of the stock is owned by insiders.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.